Thursday Morning Virtual Coffee

Start your morning...with coffee & friends from all over the country? Don't miss out on our live (virtual) networking event this Thursday morning. It's the perfect opportunity to build relationships with Realtors across the state and across the country that will serve your clients well when they need a referral... and Ray's in charge this week!

Register and join the meeting!

New Home Sales Increase in July

BY?ROBERT DIETZ?

Low existing inventory and solid demand more than offset rising mortgage rates and elevated construction costs to boost new home sales last month.

Sales of newly built, single-family homes in July increased 4.4% to a 714,000 seasonally adjusted annual rate from a downwardly revised reading in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in July was up 31.5% from a year ago.

New home sales were solid in July because of an ongoing housing deficit in the U.S. and a lack of resales stemming from many homeowners electing to stay put to preserve their low mortgage rates. However, despite this monthly uptick, new home sales will likely weaken in August as higher interest rates price out prospective buyers. Mortgage rates increased from 6.7% at the start of July to above 7% in August. New single-family home inventory in July was 437,000, up 4.8% compared to a year ago. This represents a 7.3 months’ supply at the current building pace. A measure near a 6 months’ supply is considered balanced. Of the total home inventory, including both new and resale homes, 31% of homes available for sale are newly built. 17% of new home inventory was completed ready-to-occupy homes. This is up from approximately 9% from a year ago.

Upcoming events:

The next challenge starts Sept 25th. This is a free challenge that Ray Sjolseth hosts for us each month to help everyone struggling for leads. His unique way of helping you find what works best for YOUR personality has had a huge success rate and everyone who shows up and does the work comes out of the 5 day challenge with some new leads and a new focus in their business.

Register for the Challenge Here!

Looking back:

Last week's presenter, Chet Seely, opened our eyes to the potential of becoming a dual agent and earning two commissions (Realtor & Federal Mortgage Loan Officer) on each transaction. There were many great questions about that and their referral app so we'll be hosting a separate meeting to allow everyone to get their questions answered. Watch your email for the announcement of that date and time.

Our favorite tool this week...

Need a digital business card and don't know where to start? Cardfly was built specifically with real estate in mind and has templates with the color schemes of many larger brokerages and they offer a FREE version. You can start with that and upgrade if you need to unlock more of their functions. We LOVE sharing FREE tools to help you grow your business.

Check out the FREE Digital Business Cards Here!

We're so happy to share a little bit of your time with you!In case we found our way into your inbox and you're not already in our fb group of over 223k real estate pros, check it out here.?New sister group on LinkedIn here.Looking forward to seeing everyone in the morning!

Happy Networking,

Debbie Mauro

702-378-5150

REAL ESTATE?HUMOR:

Good news! The federal government has announced that they will begin using real estate licenses as official ID. The rationale is that not everyone has a driver’s license.

(have a funny one, share it with us!)